Thursday, 18 July 2013

Economy news of the day

The government is working on a modality to facilitate creation of more work spaces in sub-urban areas to increase manufacturing in garment sector
Mutual funds faced Rs500bn redemption orders from banks and companies on Tuesday, prompting the Reserve Bank of India (RBI) to provide them a three-day repo borrowing window at a 10.25 % interest rate .(BS)

According to Central Statistics Office (CSO) data, nearly half (46.4 %) of the country’s gross domestic savings in 2011-12 were in physical assets — a nine-year high.(BS)

Under pressure from international retailers, the government might soon amend the foreign direct investment (FDI) policy on multi-brand retail trading (MBRT) by easing some conditions which had drawn sharp criticism from global investors.(BS)

The government is working on a modality to facilitate creation of more work spaces in sub-urban areas to increase manufacturing in garment sector, besides a score of other measures to boost textiles industry.

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